Prop Mgt Mastery Quiz

What does NARPM mean?

• National Association of Real Estate Management

• Non Association Realtor Property Alliance

• National Association of Real Estate Property Managers

• Non Alliance Resource Property Management

What's needed to start a Property Management Company?

• Vendor Agreements

• Liability Insurance

• Notify your broker, if affiliated with another company

• Software platform

• All of the above

What are ways to market your property management company?

• Offer a monthly special

• Build relationships with real estate agents

• Create a Landlord newsletter

• All of the above

When sales decrease, the rental market increases.

• False

• True

What should you request from vendors?

Name five profit centers

Can an unlicensed assistant do the following?

• Prepare contract forms

• Receive, record and deposit earnest money, security deposits, and advance rent

• Both A & B

• Niether A & B

An unlicensed assistant may not perform?

• Show properties

• Discuss or explain a contract, lease or other real estate document

• Both A & B

• Neither A or B

If a Landlord has a no pet policy, how does it apply to a service animal?

• Assess a fee for violating the lease with a $1K maximum

• Find out the disability and decide from there.

• A service animal does not apply.

• As long as it is not a viscous animal.

Which completed document has to be provided to a prospective tenant prior to taking a deposit.

• A signed Tenant Brokerage Agreement

• A completed tenant Application

• Move In

  Move Out Condition Report